Gate City Bank Recognized As Top Housing Lender by USDA
June 20, 2016
USDA Rural Development has recognized Gate City Bank as its top lender under the Guaranteed Rural Housing loan program in North Dakota for the second year in a row.
In the past year, Gate City Bank has approved a total of $5.8 million in Guaranteed Rural Housing loans, more than any other lender in North Dakota. In all, 51 approved lenders around the state participated in the Guaranteed Rural Housing program to help rural residents achieve home ownership.
“USDA is a great partner that helps Gate City Bank meet the housing needs of low-to-moderate income borrowers looking for a low-cost mortgage option,” said Kevin J. Hanson, Executive Vice President-Director of Lending at Gate City Bank. “We are proud to give back to our communities For a Better Way of Life®.”
USDA Rural Development oversees a single-family housing portfolio in North Dakota of $304 million, with more than 2,800 home loans. The top three lenders in North Dakota, led by Gate City Bank, were recognized by Rural Development and received a plaque acknowledging their activity in the program and commitment to providing home ownership opportunities.
About Gate City Bank
A $1.9 billion mutual community bank, Gate City Bank has been providing banking services to its customers since 1923. Gate City Bank has 36 convenient banking offices across North Dakota and western Minnesota and employs 560 people. In addition to being the top mortgage lender in North Dakota with locally approved, financed, and serviced home loans, Gate City Bank was named one of the “50 Best Places to Work” in 2014 and 2015 by Prairie Business.